euro adhoc: freenet.de AG
Mergers - Acquisitions - Takeovers /
freenet.de AG acquires Strato Group (English translation of ad hoc
announcement of 10.12.2004; 17:30:00)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
freenet.de AG acquires Strato Group (English translation of ad hoc announcement of 10.12.2004; 17:30:00) Hamburg / freenet.de AG - freenet.de AG Hamburg has reached agreement with TELES Aktiengesellschaft Informationstechnologien on the basic issues regarding the acquisition of the STRATO Group, comprising TECT AG, STRATO Medien AG, STRATO Rechenzentrum AG and Cronon AG. Negotiations and the signing of contracts were expected to end this weekend. STRATO develops and markets innovative and good-value web hosting services and completely integrated e-commerce products to private individuals and business customers. Currently the company is experiencing strong growth particularly in the future market of dedicated web hosting. In addition, STRATO has two high-performance data centres at independent locations in Berlin and Karlsruhe. With approx. 1 million customer contracts and approx. 2.1 million connected .de domains, STRATO is the number two in the domain hosting market and housing market in Germany - behind United Internet.
The purchase price is made up of a cash component of 80 millions euros and a payment of 3.1 million freenet.de shares. In this context, freenet.de AG will use approx. 750,000 shares that were acquired as part of the share buy-back programme. The freenet share buy-back programme will be discontinued once the contract has been signed. The remaining 2.35 million shares will be serviced by a capital increase out of assets in kind.
STRATO is a wholly-owned subsidiary of TELES AG, a TecDAX-listed company, and employs a workforce of approx. 300 - many of them in customer service and support. Based in Berlin, it has offices in Karlsruhe and Regensburg. STRATO works profitably and expects pre-tax profits to exceed 10 million euros in 2004. After completing the takeover, freenet.de portal sales or sales from digital services will increase by over 100 per cent.
Within the context of the acquisition, moreover, a strategic partnership was agreed with TELES Aktiengesellschaft Informationstechnologien, which obliges freenet to purchase services from TELES to a total value of 10 million euros over the next three years.
end of announcement euro adhoc 10.12.2004 19:32:39
Further inquiry note:
freenet.de AG
Andreas Neumann
Tel.: +49 (0)40 51306 778
E-Mail: IR@freenet-ag.de
Branche: Online
ISIN: DE0005792006
WKN: 579200
Index: TecDAX, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade